According to Vietsovpetro, the BK-18A rig and other internal connection projects are constructed in Bach Ho oil field under Lot 09-1 in Vietnam’s continental shelf, about 125km southeast of Vung Tau city.
It is designed and constructed by Vietsovpetro to exploit oil and gas from six wells with a total capacity of 1,360 tonnes.
Its construction started on December 15, 2020 and its installation at sea was completed on September 6 this year. It officially operated on November 10.
In 2020, the joint venture’s oil and gas output reached 3.42 million tonnes, surpassing the set target by nearly 300,000 tonnes.
Oil sales totalled only about US$1.11 billion last year, or 81.1% of the plan. It contributed nearly US$745 million to the State budget. Its revenue from outside services and other activities amounted over US$213 million, while after tax profit hit more than US$49 million.
In 1988, Vietsovpetro pumped up the first tonnes of crude oil from the basement on the continental shelf in Bach Ho field, which was a milestone for the development of Vietnam’s oil and gas sector. During the past four decades, the joint venture has led Vietnam – Russia cooperation in the energy sector, contributing greatly to strengthening the countries’ economic and trade ties.
The joint venture with a workforce of about 8,000 now is still among the most important in the Vietnam - Russia coordination and is making great contributions to strengthening their comprehensive strategic partnership.
